ST.

XAVIER’s COLLEGE OF MANAGEMENT & TECHNOLOGY

Digha-Aashiyaana Road. Digha Ghat, Patna-800011, Bihar

TOPIC : Trends Of Finance & Banking Since 2000

COURSE : INDIA’S ECONOMIC DEVELOPMENT SINCE

INDEPENDENCE

Name : Awani Goswami

Year & Semester : 3rd year, 5th sem.
Under the guidance of : Bidya Nand Choudhary
Roll no. : 63
Department : BBE
Table Of Contents
 INDIAN BANKING SYSTEM

 The Indian Banking System consists of commercial banks,

which may be public scheduled or non scheduled, private,
regional, rural and cooperative banks.
 THE PRE INDEPENDENCE PHASE
 Almost 600 banks present in India before independence.
 First bank – Bank of Hindustan, in Calcutta,1770 – close down in
1832.
 India’s first commercial banks – Oudh Commercial Bank
 Banks of 19th century – Allahabad bank(1865) & Punjab National
Bank(1894).
 Early to mid-1800s- Bank Of Bengal, Bank Of Madras, & Bank Of
Bombay were merged – became Imperial Bank – later became The
State Bank Of India
 THE POST INDEPENDENCE
PHASE
 Same as before independence.
 1969 – Govt. of India decided to nationalise the banks under the Banking Regulation
Act,1949.
 Total 14 banks were nationalised.
 In 1975 Govt. of India recognised – several groups were financially excluded.
 1982 – 90 created banking institution with specialised functioned.
 THE LPG ERA
 The Govt. invited private investor to invest in India.
 10 private banks approved by RBI – HDFC, Axis Bank, ICICI, DCB,
IndusInd Bank, etc.
 Early to mid 2000s – two others banks, Kotak Mahindra Bank (2001) &
Yes Bank (2004), received their licenses.
 2013-14 – IDFC & Bandhan Bank received their licences
 Foreign banks like HSBC and Bank of America set up branches in India.
 Payment Bank came into existence
 Banks began to digitalise.
REASONS TO NATIONALISE BANKS IN INDIA

1. To energise Priority Sectors

2. A Neglected Agriculture sector
3. Expansion of branches
4. Mobilisation of Savings
5. Economic and political factors
 CONCLUSION
o Over the years, Indian banks have transformed the country’s bleak financial
landscape to feed its growing economy. Even today, there is no doubt that the
Indian Banking System is what keeps the country’s economy afloat.
 REFERENCES
https://jupyter.org/

https://rbi.org.in/Scripts/AnnualPublications.aspx?head=Trend%20and%
20Progress%20of%20Banking%20in%20India